Form 4: Benchmark Electronics CEO Jeff Benck Reports Stock Transactions
SEC Form 4 Filing
Jeff Benck, CEO of Benchmark Electronics, reports the vesting of performance-based restricted stock units and related tax withholdings.
Summary
- Jeff Benck, the President and CEO of Benchmark Electronics, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On February 18, 2025, 32,281 performance-based restricted stock units vested.
- These units were granted based on company performance over a three-year period ending December 31, 2024, with approximately 43.55% vesting.
- Also on February 18, 2025, 16,254 shares were withheld at a price of $42.08 to cover taxes related to the vesting of restricted stock units.
- On February 19, 2025, 7,703 shares were withheld at a price of $42.61 to cover taxes related to the vesting of restricted stock units.
- Following these transactions, Benck directly owns 442,751 shares of Benchmark Electronics common stock.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions, with no inherent positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in the electronics manufacturing services industry.
Stakeholder Impact
- The vesting of stock options and restricted stock units can have a dilutive effect on existing shareholders, but it also aligns management's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | End of the three-year performance period for the restricted stock units. |
| 02/18/2024 | Date of tax withholding of 16,254 shares at $42.08. |
| 02/18/2025 | Date of vesting of 32,281 performance-based restricted stock units. |
| 02/19/2025 | Date of tax withholding of 7,703 shares at $42.61. |
| 02/20/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Jeff Benck, Benchmark Electronics, Vesting, Restricted Stock Units
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